Radiotherapy Devices Market Analysis, Trend, Size, Share, and Forecast 2017 – 2022

Dublin 2, Ireland, 2018-Jan-24 — /EPR Network/ — Fact.MR has recently added a new report to its vast online database. This research study is titled as “Radiotherapy Devices Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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Improving the quality of life of cancer patients and survivors is becoming more important than the efficacy of treatments. Against the backdrop of health risks associated with prominent cancer treatment procedures such as chemotherapy, patients and oncologists are turning towards radiotherapy as the most soothing option in treatment of cancers. In the years to come, the global cancer incidence rate is expected to soar uncontrollably, particularly due to emergence of new complications arising from exposure of toxic materials. The demand for radiotherapy devices will continue to grow in parallel with the adoption of radiotherapy in treatment of cancers. Reduced hospital stay, effectively control over the growth of tumorous tissues, and low exposure to undue radiation are serving as proponents of using radiotherapy devices in oncological treatment of cancer. Going forward, the global market for radiotherapy devices is expected to witness higher participation of medical device manufacturers towards product innovation.

Radiotherapy devices are a wide range of medical devices used in radiation therapy. These devices can produce accurate amount of high-energy radiation, which is further delivered on targeted areas of the patient’s body. General characteristics of a radiotherapy device include emission of electrons, photons and other fast-moving subatomic particles, and the use of x-ray tubes to build contact between the device and the targeted area in the patient’s body.

The Fact.MR report on global market for radiotherapy devices projects that by the end of 2022, more than US$ 7 Bn worth of radiotherapy devices will be sold across the globe, reflecting an impressive market expansion at stellar CAGR.

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Key Projections on the Global Radiotherapy Devices Market:

1.    In 2017, global sales of linear accelerator devices is expected to procure nearly half of global radiotherapy devices market value. The sales of linear accelerators for radiotherapy is expected to gain steadfast traction, procuring an annual growth of more than US$ 280 Mn from 2017 to 2022.

2.    With soaring incidence of cancers across European countries, the healthcare infrastructure in this region is expected to remain lucrative for adoption of effective cancer therapies such as radiotherapy. The demand for radiotherapy devices is expected to gain traction in Europe owing to its advantage over other cancer therapeutic devices in terms of controlling the growth of the malignant tumors. Moreover, cancer patients are likely to remain more inclined towards radiotherapy devices that limit the hospital stay duration. According to the report, Europe will remain the largest market for radiotherapy devices throughout the forecast period.

3.    In North America, changing lifestyles of consumers and penetration of urban cultures is fuelling the incidence of pancreatic cancer. Radiotherapy devices are expected to remain of great use in treatment of pancreatic cancer and borderline resectable cancer. The radiotherapy devices market in North America is expected to witness robust gains throughout the forecast period.

4.    Manufacturers of radiotherapy devices are expected to view the Asia-Pacific excluding Japan (APEJ) region as lucrative for setting up production units. Favorable industrial regulations, low wages and high resource availability is expected to drive the growth of radiotherapy devices market in the APEJ region. The report predicts that the APEJ radiotherapy devices market is expected to grow at the fastest pace, reflecting a stellar CAGR of 11.5% through 2022.

5.    Towards the end of 2022, hospitals will emerge to be the largest end-users of radiotherapy devices. The demand for radiotherapy devices in oncological treatment centers is also anticipated to gain traction, procuring over one-fourth share on global market values throughout the forecast period.

High Demand for Linear Accelerator Devices

With continued advancements in medical technology, linear accelerator devices have emerged to become top-selling products in the global market for radiotherapy devices. Viewed as the most-advanced radiotherapy devices, linear accelerators produce radiation and deliver it precisely in critical procedures such as intensity modulated radiation therapy and intraoperative radiation therapy. In 2017, more than US$ 2 Bn worth of linear accelerators are expected to be sold in the global radiotherapy device market.

Competition Tracking

Varian Medical Systems, Elekta AB, Accuray, Inc., C.R. Bard, Inc., IBA Ion Beam Applications SA, Koninklijke Philips N.V., Siemens AG, Eckert & Ziegler Bebig, IsoRay, Inc., GE Healthcare, Vision RT Ltd., RaySearch Laboratories AB, Theragenics Corp, Toshiba Medical Systems Corporation, AngioDynamics, Inc., Mitsubishi Electric Corporation, Shinva Medical Instrument Company Limited, and Neusoft Medical Systems Co., Ltd. are key companies that are expected to remain active in the expansion of global radiotherapy devices market through 2022.

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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized  Healthcare market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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